Court Rules Against Business in Conflict Minerals Lawsuit

A federal court denied a motion for summary judgment to nullify the conflict minerals reporting provision of the Dodd-Frank Act that was sought by three business groups that argued the Securities and Exchange Commission’s actions in adopting the rule were arbitrary and capricious and a violation of their First Amendment free-speech guarantees.

“Finding no problems with the SEC’s rulemaking and disagreeing that the ‘conflict minerals’ disclosure scheme transgresses the First Amendment, the Court concludes that Plaintiffs’ claims lack merit,” the U.S. District Court for the District of Columbia ruled Tuesday.

Real estate industry veteran Diane Morefield, EVP and CFO of Strategic Hotels & Resorts, Inc., discusses the challenges she has undertaken throughout her career in both finance and operational roles and her management style. While viewing herself as a “conservative voice” in an industry known for risk-taking, she says it's important to take risks when it comes to building one's career.